POOLED RISKS

Evening Post, Volume CXIII, Issue 29, 4 February 1927, Page 8

POOLED RISKS

POWER BOARD INSURANCES

(By Telegraph.) (Special to "Th« Evenlna Po«t.")

PALMERSTON N., This Day. The Power Board Secretaries' Conference yesterday devoted gome time to s discussion concerning comparative system* followed by boards in the mutter of insurance, in view of the fact that the amount paid annually by boards for insurance must run into a very large turn. />? peafeuß t0 the Proposal, the chairman UMr. C. Campbell) remarked that all boards have a common interest in the matter of insurance both from the point of view of protection and cost, and Bhould therefore satisfy themselves that they are all acting on the right lines in this connection. Should a board carry any portion of its own insurance? Should it begin to set aside an annual sum to form tlie_ nucleus of an insurance fund? "I noticed from a recently published report that one large municipality places the whole of its insurance in the hands of one public company, and that it receives a remission of SO per cent." Mr. Campbell added: The premiums total £1852 17s 3d, less 50 per cent., making a net payment of £920 8s Bd. The Southland Board, feeling that power board schemes are semi-national, places the whole of its insurances with the State Office. The premiums will reach approximately £1500, yet it receives a remission of 10 per cent, only. It loooks as though we are paying a bit too much for our patriotief. Is this not a matter in which boards might quite easily and readily agreed to combine and say to tie insurance office, if we all put our insurances through, your office, what remission will you allow us? Personally I believe that such a proposal, if earned into effect, woul» result in a very handsome saving in our insurance cogts " After discussion, it was decided to recommend the Power Boards Association to consider the question of pooling their insurances with the view of securing a reduction in insurance expenditure.